Question 1

Do I have to sell my Dublin home to get a reverse mortgage?

Accepted Answer

No. You keep the title and stay in the home. The loan only comes due when you sell, move out, or pass away.

Question 2

What happens if my loan balance exceeds my home's value?

Accepted Answer

HECM loans are non-recourse. You or your heirs never owe more than the home is worth at sale.

Question 3

Can I use a reverse mortgage to buy a home in Dublin?

Accepted Answer

Yes. A HECM for Purchase lets you buy a primary residence using reverse mortgage proceeds. It's an underused option.

Question 4

How does a spouse under 62 affect my reverse mortgage?

Accepted Answer

A non-borrowing spouse under 62 can stay in the home after the borrower dies, but they can't access additional funds.

Question 5

How are reverse mortgage proceeds paid out?

Accepted Answer

You choose: lump sum, monthly payments, a line of credit, or a combination. Each option has different long-term tradeoffs.

Question 6

Are reverse mortgage proceeds taxable income?

Accepted Answer

Generally no — loan proceeds aren't taxable. Consult a tax advisor for your specific situation.

Reverse Mortgages in Dublin, CA — Turn Equity Into Cash